FORM 10-Q


                       Securities and Exchange Commission
                             Washington, D. C. 20549

     (Mark One)
         X        Quarterly Report Pursuant to Section 13 or 15(d)
         -
                     of the Securities Exchange Act of 1934

                      For Quarter Ended: February 28, 2001
                                       OR
         _        Transition Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

                         Commission File Number: 0-14820

                                  IMMUCOR, INC.
             (Exact name of registrant as specified in its charter)


                  Georgia                               22-2408354
       (State or other jurisdiction of               (I.R.S. Employer
        incorporation or organization)              Identification No.)

          3130 Gateway Drive P.O. Box 5625 Norcross, Georgia 30091-5625
               (Address of principal executive offices) (Zip Code)


                  Registrant's telephone number: (770) 441-2051

        Indicate  by check mark whether the registrant (1) has filed all reports
required to  be  filed by  Section 13 or  15(d) of the  Securities  Exchange Act
of  1934 during  the  preceding  12 months (or for such shorter period  that the
registrant  was required  to file  such  reports),  and (2) has been  subject to
such filing requirements for the past 90 days.

                                    Yes X No

     Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.

         As of April 12, 2001: Common Stock, $0.10 Par Value - 7,277,617


<PAGE>



<TABLE>


                                  IMMUCOR, INC.
                           CONSOLIDATED BALANCE SHEETS
---------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                                                                                        February 28, 2001       May 31, 2000
                                                                                       ------------------------------------------
ASSETS                                                                                     (Unaudited)            (Audited)
<S>                                                                                            <C>                   <C>
CURRENT ASSETS:
   Cash and cash equivalents                                                                  $  2,912,588          $  3,505,926
   Accounts receivable, trade - Net                                                             23,077,046            21,726,062
   Inventories                                                                                  16,925,846            16,813,239
   Income taxes receivable                                                                       2,043,447               752,470
   Deferred income taxes                                                                           956,596               902,409
   Prepaid expenses and other                                                                    2,059,959             1,321,363
                                                                                       --------------------  --------------------

     Total current assets                                                                       47,975,482            45,021,469

LONG-TERM INVESTMENT - At cost                                                                   1,000,000             1,000,000

PROPERTY, PLANT AND EQUIPMENT - Net                                                             17,151,339            17,475,882

DEFERRED INCOME TAXES                                                                            1,120,238             1,120,238

OTHER ASSETS - Net                                                                               3,216,330             2,251,293

DEFERRED LICENSING COSTS - Net                                                                   1,872,152             2,044,850


EXCESS OF COST OVER NET TANGIBLE ASSETS ACQUIRED - Net                                          29,214,900            33,861,147
                                                                                       --------------------  --------------------

                                                                                              $101,550,441          $102,774,879
                                                                                       ====================  ====================
</TABLE>

















See notes to consolidated financial statements.


<PAGE>

<TABLE>

                                  IMMUCOR, INC.
                     CONSOLIDATED BALANCE SHEETS (continued)
----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                                        February 28, 2001       May 31, 2000
                                                                                       -------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY                                                       (Unaudited)             (Audited)
<S>                                                                                        <C>                    <C>
CURRENT LIABILITIES:
   Current portion of borrowings under bank line of credit agreements                      $    5,843,017         $    2,952,307
   Current portion of long-term debt                                                           39,168,647              4,277,598
   Current portion of capital lease obligations                                                   759,987                618,240
   Accounts payable                                                                            11,205,178              9,442,977
   Income taxes payable                                                                            62,250                 74,715
   Accrued salaries and wages                                                                   1,411,535              1,346,874
   Deferred income taxes                                                                          400,578                164,243
   Other accrued liabilities                                                                    5,328,369              4,276,554
                                                                                       ---------------------  --------------------

     Total current liabilities                                                                 64,179,561             23,153,508

BORROWINGS UNDER BANK LINE OF CREDIT AGREEMENTS                                                         -              8,006,213
LONG-TERM DEBT                                                                                    344,457             25,144,272
CAPITAL LEASE OBLIGATIONS                                                                       1,826,803              1,664,165

DEFERRED INCOME TAXES                                                                           2,858,832              3,062,331

OTHER LIABILITIES                                                                                  12,563                825,592

SHAREHOLDERS' EQUITY:
   Common stock - authorized 45,000,000 shares and 30,000,000 shares at
     2/28/2001 and 5/31/2000, respectively, $0.10 par value; issued and
     outstanding 7,277,617 at 2/28/2001 and 7,462,118 at 5/31/2000                                727,762                746,212
   Additional paid-in capital                                                                  15,382,541             16,848,804
   Retained earnings                                                                           21,649,485             28,310,741
   Accumulated other comprehensive loss                                                        (5,431,563)            (4,986,959)
                                                                                       ---------------------  --------------------

     Total shareholders' equity                                                                32,328,225             40,918,798
                                                                                       ---------------------  --------------------

                                                                                           $  101,550,441         $  102,774,879
                                                                                       =====================  ====================
</TABLE>











See notes to consolidated financial statements.



<PAGE>

<TABLE>

                                  IMMUCOR, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
<CAPTION>
                                                                Three Months Ended                  Nine Months Ended
                                                                ------------------                  -----------------
                                                         February 28,     February 29,      February 28,     February 29,
                                                         ------------     ------------      ------------     ------------
                                                             2001             2000              2001             2000
                                                             ----             ----              ----             ----

<S>                                                     <C>              <C>               <C>              <C>
NET SALES.............................................  $   16,861,462   $   19,201,121    $   50,755,968   $   58,380,907

COST OF SALES.........................................       9,825,683        9,025,124        27,232,886       27,248,423
                                                        ---------------   ---------------  ---------------  ---------------
GROSS MARGIN..........................................       7,035,779       10,175,997        23,523,082       31,132,484
                                                        ---------------   ---------------  ---------------  ---------------
OPERATING EXPENSES:
     Research and development.........................         498,361          553,079         1,499,715        1,283,336
     Selling and marketing............................       3,283,774        2,999,163         9,530,653        8,919,250
     Distribution.....................................       1,492,278        1,422,632         4,331,402        4,421,592
     General and administrative.......................       3,568,170        2,732,826         8,069,995        7,972,114
     Loss on impairment of goodwill...................       3,308,119                -         3,308,119                -
     Amortization expense.............................         455,309          453,352         1,383,062        1,353,600
                                                        ---------------   ---------------  ---------------  ---------------
        Total operating expenses......................      12,606,011        8,161,052        28,122,946       23,949,892
                                                        ---------------   ---------------  ---------------  ---------------
(LOSS) INCOME FROM OPERATIONS.........................      (5,570,232)       2,014,945        (4,599,864)       7,182,592
                                                        ---------------   ---------------  ---------------  ---------------
OTHER INCOME (EXPENSE):
     Interest income..................................               -            3,967            11,159           14,582
     Interest expense.................................      (1,191,940)        (707,131)       (2,861,815)      (2,146,657)
     Other - net......................................          56,698           30,760           183,644          180,847
                                                        ---------------   ---------------  ---------------  ---------------
        Total other...................................      (1,135,242)        (672,404)       (2,667,012)      (1,951,228)
                                                        ---------------   ---------------  ---------------  ---------------
(LOSS) INCOME BEFORE INCOME TAXES.....................      (6,705,474)       1,342,541        (7,266,876)       5,231,364
INCOME TAX (BENEFIT) EXPENSE..........................        (871,898)         504,645          (605,620)       1,734,277
                                                        ---------------   ---------------  ---------------  ---------------
NET (LOSS) INCOME.....................................  $   (5,833,576)  $      837,896    $   (6,661,256)  $    3,497,087
                                                        ================ ================  ================ ================
(Loss) earnings per share:
     Basic............................................      $(0.80)           $0.11            $(0.91)           $0.45
                                                        ================ ================  ================ ================
     Diluted..........................................      $(0.80)           $0.10            $(0.91)           $0.40
                                                        ================ ================  ================ ================

Weighted average shares outstanding:
     Basic............................................     7,277,617        7,816,012         7,289,012        7,715,560
                                                        ================ ================  ================ ================
     Diluted..........................................     7,277,617        8,671,191         7,289,012        8,685,157
                                                        ================ ================  ================ ================
</TABLE>




See notes to consolidated financial statements.
<PAGE>


<TABLE>

                                  IMMUCOR, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
-----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
                                                                                                  Nine Months Ended
                                                                                           February 28,      February 29,
                                                                                              2001              2000
<S>                                                                                         <C>                 <C>
OPERATING ACTIVITIES:
   Net (loss) income                                                                       $ (6,661,256)       $ 3,497,087
   Adjustments to reconcile net (loss) income to net cash (used in) provided by
     operating activities:
     Depreciation and amortization of property and equipment                                  2,451,349          2,067,921
     Amortization of other assets and excess of cost over net tangible assets acquired        1,383,062          1,353,600
     Impairment of goodwill                                                                   3,308,119                  -
     Loss on retirement of fixed assets                                                          42,522                  -
     Changes in operating assets and liabilities:
       Accounts receivable, trade                                                            (1,350,984)        (2,951,808)
       Accounts receivable from former officer and director                                           -            140,946
       Income taxes                                                                          (1,303,478)         1,217,723
       Inventories                                                                             (112,607)          (911,013)
       Other current assets                                                                  (1,766,926)           (198,781)
       Accounts payable                                                                       1,762,201         (2,476,959)
       Other current liabilities                                                              1,179,573           (501,151)
                                                                                         -----------------  -----------------
         Total adjustments                                                                    5,592,831         (2,259,522)
                                                                                         -----------------  -----------------
Cash (used in) provided by operating activities                                              (1,068,425)         1,237,565

INVESTING ACTIVITIES:
   Purchases of / deposits on property and equipment                                         (3,258,769)        (2,797,064)
   Cash paid for acquisition, net of cash acquired                                                    -           (673,225)
   Acquisition-related severance                                                                      -            (82,756)
   Decrease (increase) in other assets                                                                -            (15,028)
                                                                                         -----------------  -----------------
Cash used in investing activities                                                            (3,258,769)        (3,568,073)

FINANCING ACTIVITIES:
   Borrowings under line of credit agreements net of repayments                                  38,191            111,772
   Proceeds from issuance of long term debt and capital lease obligations                    35,079,771          5,013,226
   Repayment of long-term debt and capital lease obligations                                (29,231,882)        (5,335,872)
   Exercise of stock options and warrants (373,582 shares)                                            -          2,892,933
   Purchase and retirement of stock (184,500 shares)                                         (1,484,713)                 -
                                                                                         -----------------  ----------------
Cash provided by financing activities                                                         4,401,367          2,682,059

EFFECT OF EXCHANGE RATE CHANGES ON CASH                                                        (667,511)          (169,453)
                                                                                         -----------------  ----------------

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS                                               (593,338)           182,098

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                              3,505,926          2,793,592
                                                                                         -----------------  ----------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                                 $  2,912,588       $  2,975,690
                                                                                         =================  ================
</TABLE>

See notes to consolidated financial statements


<PAGE>


                                  IMMUCOR, INC.
                   Notes to Consolidated Financial Statements
                                   (Unaudited)

1.     Basis of Presentation

The accompanying  unaudited consolidated financial statements have been prepared
in accordance with accounting principles generally accepted in the United States
for interim financial  information and the instructions to Form 10-Q and Article
10 of Regulation  S-X.  Accordingly,  they do not include all of the information
and footnotes required by accounting principles generally accepted in the United
States for complete financial  statements.  However,  there has been no material
change in the information disclosed in the Company's annual financial statements
dated May 31, 2000,  except as disclosed  herein.  In the opinion of management,
all adjustments  (consisting of normal recurring accruals)  considered necessary
for a fair presentation have been included. Operating results for the nine-month
period ended  February 28, 2001 are not  necessarily  indicative  of the results
that may be expected for the year ending May 31, 2001. For further  information,
refer to the consolidated financial statements and footnotes thereto included in
the Company's Annual Report on Form 10-K for the year ended May 31, 2000.

Certain reclassifications were made in the consolidated financial statements for
the nine-month period ended February 29, 2000 to conform to the presentation for
the nine-month period ended February 28, 2001.

2.       INVENTORIES

Inventories are stated at the lower of first-in, first-out cost or market:
<TABLE>
<CAPTION>

                                                      As of                          As of
                                                February 28, 2001                May 31, 2000
                                              ----------------------         ----------------------
<S>                                                     <C>                            <C>
Raw materials and supplies                            $   6,034,944                  $   4,983,303
Work in process                                           1,380,160                      1,603,117
Finished goods                                            9,510,742                     10,226,819
                                              ----------------------         ----------------------
                                                      $  16,925,846                  $  16,813,239
                                              ======================         ======================
</TABLE>


3.     (LOSS) EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per
share in accordance  with Statement of Financial  Accounting  Standards No. 128,
Earnings per Share.
<TABLE>
<CAPTION>

                                                         Three Months Ended                 Nine Months Ended
                                                    February 28,     February 29,     February 28,     February 29,
                                                        2001             2000             2001             2000
                                                   ---------------- ---------------  ---------------- ---------------
Numerator for basic and diluted (loss)
        earnings per share:
<S>                                                  <C>                 <C>            <C>               <C>
(Loss) income available to common shareholders       $ (5,833,576)       $ 837,896      $(6,661,256)      $3,497,087
                                                   ================ ===============  ================ ===============

Denominator:
  For basic (loss) earnings per share - weighted
     average basis                                       7,277,617       7,816,012         7,289,012       7,715,560
  Effect of dilutive stock options and warrants           -                855,179          -                969,597
                                                   ---------------- ---------------  ---------------- ---------------
  Denominator for diluted (loss) earnings per
     share-adjusted weighted-average shares              7,277,617       8,671,191         7,289,012       8,685,157
                                                   ================ ===============  ================ ===============

Basic (loss) earnings per share                            $(0.80)           $0.11           $(0.91)           $0.45
                                                   ================ ===============  ================ ===============

Diluted (loss) earnings per share                          $(0.80)           $0.10           $(0.91)           $0.40
                                                   ================ ===============  ================ ===============
</TABLE>
<PAGE>


4.    DOMESTIC AND FOREIGN OPERATIONS

Information   concerning  the  Company's  domestic  and  foreign  operations  is
summarized below (in 000s):
<TABLE>
<CAPTION>

                             ---------------------------------------------------------------------------------------------------
                                                            Three Months Ended February 28, 2001
                             ---------------------------------------------------------------------------------------------------
<S>                           <C>           <C>            <C>          <C>           <C>          <C>             <C>
                               U.S.         Germany        Italy        Canada        Other        Eliminations    Consolidated
Net sales:
   Unaffiliated customers     $10,654        $2,058        $1,445        $1,225        $1,479      $      -         $16,861
   Affiliates                   1,747           113             -            13            52        (1,925)              -
                             ----------    ----------    ----------    ----------    ---------     ------------    -------------
      Total                    12,401         2,171         1,445         1,238         1,531        (1,925)         16,861

(Loss)Income from operations   (1,846)           (7)          186           172        (4,075)            -          (5,570)

                             ---------------------------------------------------------------------------------------------------
                                                            Three Months Ended February 29, 2000
                             ---------------------------------------------------------------------------------------------------
                               U.S.         Germany        Italy        Canada        Other        Eliminations    Consolidated
Net sales:
   Unaffiliated customers     $12,140        $2,282        $1,601        $1,312        $1,866      $      -         $19,201
   Affiliates                   1,682           228             -            78           707        (2,695)              -
                             ----------    ----------    ----------    ----------    ---------     ------------    -------------
      Total                    13,822         2,510         1,601         1,390         2,573        (2,695)         19,201

Income from operations            973           242            83           442           265            10           2,015

                             ---------------------------------------------------------------------------------------------------
                                                            Nine Months Ended February 28, 2001
                             ---------------------------------------------------------------------------------------------------

                               U.S.         Germany        Italy        Canada        Other        Eliminations    Consolidated
Net sales:
   Unaffiliated customers     $31,846        $6,179        $4,189        $3,985        $4,557      $      -         $50,756
   Affiliates                   5,134           260             -            58           142        (5,594)              -
                             ----------    ----------    ----------    ----------    ---------     ------------    -------------
      Total                    36,980         6,439         4,189         4,043         4,699        (5,594)         50,756

(Loss)Income from operations   (2,174)          641           479           846        (4,333)          (59)         (4,600)

                             ---------------------------------------------------------------------------------------------------
                                                            Nine Months Ended February 29, 2000
                             ---------------------------------------------------------------------------------------------------

                               U.S.         Germany        Italy        Canada        Other        Eliminations    Consolidated
Net sales:
   Unaffiliated customers     $37,125        $7,156        $5,020        $3,809        $5,271      $      -         $58,381
   Affiliates                   4,935           476             -           230         2,034        (7,675)              -
                             ----------    ----------    ----------    ----------    ---------     ------------    -------------
      Total                    42,060         7,632         5,020         4,039         7,305        (7,675)         58,381

Income from operations          4,629           840           413         1,162           137             2           7,183

</TABLE>

The Company's U.S. operation made net export sales to unaffiliated  customers of
approximately  $1,281,000 and $1,747,000 for the three months ended February 28,
2001 and February 29, 2000,  respectively  and $4,177,000 and $5,228,000 for the
nine months ended  February 28, 2001 and  February 29, 2000,  respectively.  The
Company's  German  operation made net export sales to unaffiliated  customers of
approximately $594,000 and $624,000 for the three months ended February 28, 2001
and February 29, 2000,  respectively  and $981,000 and  $1,118,000  for the nine
months  ended  February  28,  2001 and  February  29,  2000,  respectively.  The
Company's Canadian operation made net export sales to unaffiliated  customers of
approximately $570,000 and $543,000 for the three months ended February 28, 2001
and February 29, 2000,  respectively  and $1,850,000 and $1,634,000 for the nine
months ended  February 28, 2001 and  February  29, 2000,  respectively.  Product
sales to affiliates are valued at market prices.

<PAGE>


5.    COMPREHENSIVE (LOSS) INCOME

The components of comprehensive (loss) income for the three-month and nine-month
periods ended February 28, 2001 and February 29, 2000 are as follows:
<TABLE>
<CAPTION>

                                              Three Months Ended                         Nine Months Ended
                                      February 28,         February 29,         February 28,           February 29,
                                          2001                 2000                 2001                   2000
                                     ----------------     ----------------    ------------------     -----------------
<S>                                  <C>                       <C>             <C>                      <C>
Net (loss) income                     $  (5,833,576)       $     837,896       $   (6,661,256)        $   3,497,087
Net foreign currency translation            554,369             (308,383)            (444,604)             (653,871)
                                     ----------------     ----------------    ------------------     -----------------

Comprehensive (loss) income           $  (5,279,207)       $     529,513       $   (7,105,860)        $   2,843,216
                                     ================     ================    ==================     =================
</TABLE>

Accumulated  comprehensive  loss as of  February  28,  2001 and May 31, 2000 was
($5,431,563) and ($4,986,959),  respectively. The balance consists of net losses
on  foreign  currency  translation  adjustments  and has been  disclosed  in the
shareholders' equity section of the consolidated balance sheets.

6.   ACCOUNTS RECEIVABLE FROM OFFICER AND DIRECTOR

On June 6, 2000,  Edward L. Gallup,  President and CEO of Immucor,  Inc. entered
into a loan  agreement  with Immucor,  Inc. to borrow up to $400,000 in order to
meet margin  calls  related to loans made by  brokerage  companies.  The Company
acknowledges  that  certain  benefits  would  accrue to  Immucor,  Inc.  and its
shareholders if such margin calls were satisfied by some means other than having
those shares sold by the broker. The interest rate on the loan is LIBOR plus 1%,
which is the Company's  current  borrowing  rate.  As of February 28, 2001,  the
amount owed to Immucor,  Inc. is $369,000,  is secured by 105,000 Immucor shares
and is included in other current assets on the balance sheet.

7.  BANK DEBT

As of February 28, 2001,  the Company was in violation of certain loan covenants
under its Loan Agreement dated February 23, 2001 with its primary lender.  Under
the terms of the existing loan agreement, this technical default allows the bank
to call  the  note  immediately.  The  bank  has not yet  agreed  to  waive  the
violations;  therefore, the Company has reclassified  approximately $2.6 million
of  borrowings  under bank line of credit  agreements  and  approximately  $35.5
million  of  long-term  debt  representing  all of its  long-term  debt with the
primary lender to current liabilities on the balance sheet. Management is in the
process of renegotiating these covenants with the bank.

8.    IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS

In June 1998,  the  Financial  Accounting  Standards  Board issued  Statement of
Financial  Accounting  Standards No. 133, (FAS 133),  "Accounting for Derivative
Instruments and Hedging Activities." This statement provides a comprehensive and
consistent  standard for the  recognition  and  measurement of  derivatives  and
hedging  activities.  In July 1999,  the Financial  Accounting  Standards  Board
issued Statement of Financial  Accounting  Standards No. 137, which deferred the
effective date of FAS 133 for one year. In June 2000,  the Financial  Accounting
Standards Board issued Statement of Financial Accounting Standards No. 138, (FAS
138),  "Accounting  for  Certain  Derivative  Instruments  and  Certain  Hedging
Activities-an  amendment  to FASB  Statement  No 133."  This  statement  amended
certain provisions of FAS 133.  Accordingly,  the Company will adopt FAS 133, as
amended  by FAS 138,  effective  the first  quarter of fiscal  2002.  Management
believes  this  statement  will  not have a  material  impact  on the  Company's
financial statements.

<PAGE>



In December 1999, the Securities and Exchange Commission issued Staff Accounting
Bulletin No. 101,"SAB 101", Revenue Recognition in Financial Statements. SAB 101
summarizes  the SEC staff's  views  regarding the  recognition  and reporting of
revenues and certain  transactions.  The effective date of this pronouncement is
the fourth quarter of the fiscal year  beginning  December 15, 1999. The Company
is evaluating  SAB 101 and the effect it will have on its  financial  statements
and its current revenue recognition policy.

9.   INCOME TAX (BENEFIT) EXPENSE

Income  tax  (benefit)  expense  as  shown  in the  statements  of  consolidated
operations differ from the amount that would be computed if income before income
taxes was  multiplied by the United States  federal  income tax rate  (statutory
rate) applicable in each period. The reasons for this difference are as follows:

<TABLE>
<CAPTION>

                                                  Three Months Ended                   Nine Months Ended
                                             February 28,      February 29,     February 28,      February 29,
                                                 2001              2000             2001              2000
                                                 ----              ----             ----              ----

<S>                                         <C>                <C>             <C>               <C>
Benefit (expense) at statutory rate         $    (2,279,861)   $     456,464   $    (2,470,738)  $    1,778,664
Increase (decrease) resulting from:
   Amortization                                     154,805          154,140           470,241          460,224
   Impairment of goodwill                         1,124,760                -         1,124,760                -
   Foreign operations                               228,325         (105,959)          196,516         (504,611)
   Other                                            (99,927)               -            73,601                -
                                           -----------------------------------------------------------------------
Tax provision per statement of operations   $      (871,898)    $    504,645   $      (605,620)  $    1,734,277
                                           =======================================================================
</TABLE>


10.  CONTINGENCIES

During the quarter ended August 31, 2000,  isolated  performance issues arose at
certain ABS2000 installations that resulted in mistypings not directly affecting
any patient transfusions.  The Company issued a safety notification,  requesting
customers  to  confirm  ABS2000  results  until the cause of the  difficulty  is
identified  and  corrected.  The Company  believes it has identified the factors
that caused the performance issues and submitted this information to the FDA. On
December 6, 2000, with the FDA's approval,  the safety notification for antibody
screening and crossmatch assays was removed. Customers no longer have to perform
manual backup for either of these procedures. In addition to this, the Company's
corrective  action  plan  for  blood  grouping  was  accepted  by the FDA and in
connection  with the plan, a special  510(k) was  submitted to the FDA. The plan
called for Company service  engineers to complete field corrective action on the
ABS2000 and to  accumulate  clinical data for group and type assays for selected
customers.  The Company has completed these tasks and is currently analyzing and
collating data to be submitted to the FDA for expedited  review.  Upon clearance
by the FDA,  the safety  alert for group and type assays  will be lifted.  These
performance  issues  may  result  in  further  delays  in  customers   accepting
instruments,  and continue to affect sales of reagents used in the  instruments,
and both of these factors will adversely impact sales and earnings.  The Company
deferred  recognition of instrument sales of  approximately  $1.0 million in the
first and second  quarters  and  believes  this is a  conservative  approach  to
accounting   for  sales  made  in  connection   with  its  third  party  leasing
arrangement.  In  addition,  the  Company may  receive  requests  for refunds on
instruments  already  placed in service or requests  for  financial  concessions
attributable to inconveniences  associated with these performance  issues. As of
February 28, 2001, $0.6 million in credits have been issued for instruments.  In
the quarter,  the Company  recorded an  allowance of $0.3 million for  potential
future  returns of  instruments.  A private label leasing  company that finances
customer purchases of ABS2000 instruments has advised the Company that it is not
willing to provide  financing for additional  purchases of this instrument until
it  satisfies  itself  that the  performance  issues  related to the ABS2000 are
resolved to the satisfaction of the FDA.
<PAGE>

When the Company  acquired Gamma  Biologicals,  Inc.  ("Gamma  Biologicals")  in
October 1998, Gamma Biologicals was a party to an existing legal proceeding.  On
May 12, 1998, Gamma  Biologicals  received  notification  that a claim of patent
infringement  had  been  filed on that  date in U.S.  District  Court,  Southern
District of Florida,  Miami Division, by Micro Typing Systems, Inc. and Stiftung
fur Diagnostiche Forschung (the Foundation).  Subsequently, in February 1999 the
Company received notification that a second claim was filed in the U.S. District
Court for the  Northern  District of Georgia,  against  Immucor,  Inc. and Gamma
Biologicals for patent  infringement  on the first patent  described above and a
second patent  recently  granted to the  Foundation.  The claim alleged that the
recently  introduced Gamma ReACT Test System infringed U.S. patent No. 5,512,432
granted to the Foundation April 30, 1996 and U.S. patent No.  5,863,802  granted
to the Foundation on January 26, 1999. The plaintiffs  sought a preliminary  and
permanent  injunction  against  the  continued  alleged  infringement  by  Gamma
Biologicals and Immucor, and an award of treble damages, with interest and costs
and reasonable  attorney's  fees. On September 5, 2000 a third patent was issued
to the Foundation.  The plaintiffs had asserted  infringement of this patent and
sought to add this  patent to the  lawsuit.  The  Company,  in light of this new
patent,  evaluated its position and negotiated a settlement with the Foundation.
Effective  February 28, 2001 the Company no longer markets the ReACT Test System
and its related  reagents.  The automated filling machine was turned over to the
Foundation and all related  instruments  and  manufacturing  materials have been
destroyed. The reserve for the lawsuit that was recorded with the acquisition of
Gamma  Biologicals  offset the  majority of the costs to exit the ReACT  market.
Remaining  charges of $166,500 of exit costs were  recorded in the quarter ended
February 28, 2001.

European  results  were  adversely  affected  by  the  interrupted  supply  of a
distributed  product produced by a large multinational  supplier.  The backorder
situation  escalated in the first quarter of fiscal 2001 and reduced sales by an
estimated $230,000 and by a similar amount in the second and third quarters. The
Company believes that the backorder  situation will continue.  (see Part II Item
1. Legal Proceedings).  The Company expects European results will continue to be
suppressed unless and until this supply problem can be satisfactorily resolved.

On October 31, 2000 Menarini Diagnosticos, S.A. filed a lawsuit in Spanish court
against Gamma  Biologicals,  Inc. for damages suffered in the termination of the
distribution agreement between the two parties. Gamma Biologicals,  Inc. did not
receive  notification  of the lawsuit until the translated  legal documents were
received on January 21, 2001. With the acquisition of Gamma Biologicals, Inc. in
1998 by  Immucor,  Inc.,  it was  deemed a  Spanish  distributor  was no  longer
necessary as Immucor, S.L. would now supply the Spanish market. The plaintiff is
seeking an unspecified  amount of damages for lost profit and expenses  incurred
with the  introduction and distribution of Gamma products to the Spanish market,
as well as legal expenses. (see Part II Item 1. Legal Proceedings).

11.      OTHER

The Company is  implementing  a cost savings plan  designed to reduce costs over
$4.0  million  annually  through  layoffs,  the  closure  of  operations  in the
Netherlands  and  curtailed  spending.  Officers of the Company have agreed to a
salary reduction, which approximates an average of 8 percent of their total base
compensation.  Layoffs are projected to account for about $3.0 million while the
remainder is expected to be achieved through a reduction in programs and closure
of the Dutch operations. As a result, for the third quarter the Company recorded
approximately   $1.3   million   in   nonrecurring   expenses   related  to  the
implementation  of the plan. The bulk of these costs are included in general and
administrative  expenses and are primarily  related to severance.  The Company's
return to  profitability,  the effectiveness of the cost reduction plan, and the
regulatory  costs  related to the  ABS2000 are based on certain  assumptions.  A
number of  factors  could  adversely  affect  the  Company's  ability to achieve
assumptions in the plan.  Continued delays in completing the ABS2000  corrective
action plan for blood  grouping,  the  decision of  customers  to defer  capital
spending,  increased  competition  in the  sale  of  instruments  and  reagents,
continued  levels  of  adequate  working  capital   considering  recent  Company
performance,  changes in interest rates and general economic  conditions are all
factors that could affect the outcome of the plan.

Due to continued  operating losses and a reorganization  at the Company's French
and Belgian operations,  an impairment in value of the goodwill related to these
acquisitions caused a non-cash, nonrecurring impact on earnings of approximately
$3.3 million.


<PAGE>


ITEM 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations.

Any statements  contained  herein that are not statements of historical fact are
forward-looking  statements  as that term is defined in the  Private  Securities
Reform Act of 1995,  including,  without limitation,  statements  concerning the
Company's expectations,  beliefs, intentions or strategies regarding the future.
All  forward-looking  statements  included  in this  discussiont  are  based  on
information available to the Company on the date hereof, and the Company assumes
no obligation to update any such forward-looking statements.  Specifically,  the
statements regarding the Company's return to profitability, the effectiveness of
the cost  reduction  plan, the Company's  ability to  renegotiate  the financial
covenants in its loan  agreement with its principal  lender,  and the regulatory
costs related to the ABS2000 are forward looking statements. A number of factors
could  adversely  affect our ability to achieve these things,  such as continued
delays in completing the ABS2000 corrective action plan for blood grouping,  the
decision of customers to defer capital  spending,  increased  competition in the
sale of instruments and reagents,  continued  levels of adequate working capital
considering  recent Company  performance,  changes in interest rates and general
economic  conditions.  In addition,  the continued  strengthening  of the dollar
versus the Euro would adversely impact reported European results.

Financial Condition and Liquidity:

As of February 28, 2001,  the Company's  cash position  totaled  $2,913,000,  an
equivalent position to the prior year but a decline of $282,000 for the quarter.
During the  quarter  the Company  revised  its loan  agreement  with its primary
lender, restructuring the loan covenants and debt repayment schedule. Borrowings
under the new loan  agreement and related lines of credit totaled $29.4 million,
including loan fees of $220,000,  retired borrowings under the old loan of $26.0
million and repayment of $1.2 million on the existing German subsidiary loan. In
connection  with the  Company's new agreement  with its  principal  lender,  the
Company granted its principal lender a security interest in substantially all of
the Company's assets in addition to other security.  Additionally,  the new loan
agreement  contains  certain  financial and other covenants  which,  among other
things, limit annual capital  expenditures,  prevent payment of dividends or the
repurchase of stock,   limit the  incurrence of additional debt, and require the
maintenance of certain financial ratios.

The FDA agreed to lift the ABS2000 safety  notification  for antibody  screening
and  crossmatch  assay in December  2000, but due to delays in the completion of
the corrective action plan for blood grouping assay on the ABS 2000,  instrument
sales have not increased as previously expected.  Instead, instrument sales have
declined for three consecutive quarters.  Reduced instrument sales together with
costs relating to additional safety procedures and customer  concessions related
to the FDA  safety  notification  have  been a drain  on the  Company's  working
capital rather than a source of working capital as in past periods.  The Company
is taking additional action to generate liquidity and return to profitability in
future quarters  through the  implementation  of a cost savings plan designed to
reduce  costs  over $4.0  million  annually  through  layoffs,  the  closure  of
operations in the  Netherlands and curtailed  spending.  Officers of the Company
have  agreed to a salary  reduction,  which  approximates  an  average  of eight
percent of their total base  compensation.  Layoffs are projected to account for
about $3.0  million  while the  remainder  of the  savings  are  expected  to be
achieved  through  a  reduction  in  programs  and  the  closure  of  the  Dutch
operations.   As  a  result,   for  the  third  quarter  the  Company   recorded
approximately   $1.3   million   in   nonrecurring   expenses   related  to  the
implementation of the plan.

As a result of this charge to earnings,  our recent  losses,  and other factors,
the  Company is not in  compliance  with  covenants  in its  agreement  with its
principal lender requiring the Company to maintain specified ratios of (i) fixed
charge coverage,  (ii) funded debt to EBITDA  (earnings before interest,  taxes,
depreciation, and amortization), (iii) leverage, and (iv) interest coverage. The
Company's  non-compliance  with the leverage ratio covenant was also affected by
the  Company's  write-down  of  goodwill  related  to  its  Belgian  and  French
operations--see Management's Discussion and Analysis--Operating  Expenses. These
covenant  violations  impact  all of the  Company's  outstanding  term loans and
lines of credit.
<PAGE>

Under the terms of the loan agreement,  the Company's  non-compliance  with such
covenants  allows  the  lender  to  accelerate  or call the  notes  immediately,
terminates the lender's  obligation to advance additional funds under any of the
lines of credit, allows the lender to charge an additional two percentage points
of "default" interest,  and allows the lender to exercise its remedies under its
security documents.  Although the lender has given no indication that it will do
any of these things, the Company has reclassified all of its long-term debt with
the primary lender ($35.3  million) to current  liabilities on the balance sheet
in  accordance  with a  conservative  approach  to its  accounting.  The Company
continues to negotiate with its principal  lender for a waiver of such defaults,
however, and if the Company is successful in obtaining a waiver of such defaults
from its primary  lender,  the Company will be able, in the future,  to classify
such amount as long term debt.


Under the present  circumstances,  our  ability to  continue as a going  concern
depends on our lender's  forbearance from exercising its remedies under the loan
agreement  or our ability to obtain  other  financing.  The Company is currently
working  closely  with the  lender  to  obtain  an  agreement  to  forbear  from
exercising  such remedies and to reset the financial loan  covenants  within the
agreement to  accommodate  its recent  operating  losses and  one-time  expenses
incurred in the third quarter.

We are also exploring  alternative sources of financing,  including the issuance
of various forms of equity and high-yield debentures. We have not identified any
definite  sources  of  additional  financing,  and we  cannot  assure  you  that
additional  financing  will be  obtained  on  favorable  terms,  if at  all.  If
additional  capital  is raised  through  the  issuance  of equity or  securities
convertible  into equity,  our stockholders  may experience  dilution,  and such
securities  may have rights,  preferences  or privileges  senior to those of the
holders  of  common  stock.  For the  year the  Company  had a net  increase  in
borrowings  on  long-term  debt and  capitalized  leases of $5.9 million to fund
capital improvements  necessary to meet FDA quality requirements,  to repay $4.2
million in debt and to repurchase  $1.5 million of the  Company's  common stock.
There are no assurances that management will be able to obtain an agreement from
the  lender to  forbear  from  exercising  its  remedies  and to modify the loan
covenants.  However, management expects that the projected savings from the cost
savings plan, cash and cash  equivalents and internally  generated funds will be
sufficient to support  operations and planned capital  expenditures for the next
12 months.  In addition,  management  believes  that most  capital  expenditures
planned  for the next 12 months can be delayed  in the event  capital  resources
become inadequate.

Results of Operations:

Net sales

Instrument  sales,  $0.8 million  compared to $2.8 million  recorded in the same
quarter last year and $2.5 million year to date compared to $8.3 million for the
prior year to date, reflect delays in customers  accepting  instruments.  During
June 2000,  isolated  performance  issues were  experienced  by certain  ABS2000
customers. The Company took a prudent approach and issued a safety notification,
requesting  customers  to  confirm  ABS2000  results  until  the  cause  of  the
difficulty  was corrected.  On December 6, 2000, the Company  removed the safety
alert for the antibody screening and crossmatch assays performed on the ABS2000,
however,  the safety  alert  remains  in place for blood  grouping  assays.  The
Company's corrective action plan for blood grouping was agreed to by the FDA and
the Company  has begun  implementing  this plan.  These  performance  issues may
result in further delays in customers accepting instruments, which would further
adversely  impact sales and earnings.  During the quarter and for the nine-month
period,  the Company has issued credits  reducing sales by $0.2 million and $0.6
million,  respectively. Also, the strength of the U.S.dollar versus the Euro had
the effect of reducing  reported  European sales by  approximately  $0.9 million
compared to the prior year's quarter and $2.8 million when compared to the prior
year to date.

<PAGE>

Gross profit

Cost of sales  increased by $0.7 million as compared to the prior year's quarter
despite the decrease in sales,  while gross  margin,  as a percentage  of sales,
decreased  by 10%.  Approximately  $0.5  million of the  increase  was caused by
higher  production costs due to increased FDA regulatory  requirements,  coupled
with expenditures  incurred to resolve the ABS2000 issue which should decline in
future periods. Also, biological  contamination and other isolated manufacturing
problems with certain production lots resulted in additional manufacturing costs
of approximately $0.2 million. Lower instrument sales caused under-absorption of
fixed  instrumentation  support costs, which also negatively  impacted the gross
margin.  Gross profit for the nine months ended  February 28, 2001 totaled 46.6%
versus 53.3% for the same period in 2000.  The  decrease in gross profit  margin
was  primarily  caused by ABS2000  instrument  installation  costs  incurred  in
advance of revenue recognition and reagents provided free of charge to customers
performing  backup  testing.  The Company  launched an aggressive  reagent price
increase in the second  quarter  that is  expected to improve  sales and profits
significantly  while only adding minor  increases to the overall cost of patient
care. The Company has recently  received  confirmation that the pricing strategy
is beginning  to work.  The Company has renewed an  important  national  account
purchasing  agreement at higher  prices and added a new national  account with a
significant number of hospitals at prices that should also significantly improve
sales and profits.

Operating expenses

When compared to the prior year,  research and development costs for fiscal year
to date increased  $216,000 due to instrument  development  initiatives  for the
Galileo for the European market. The project is continuing on track for a launch
in late  calendar  year 2001.  The  Galileo is  designed  to fulfill the need in
Europe for a high throughput blood serology-testing device with a test menu that
includes antibody screening.

Selling and marketing  expenses for the three and nine month  periods  increased
$285,000 and $611,000 as compared to the same periods last year. The Company was
developing an  infrastructure to support an increased level of instrument sales,
but in light of the  current  issues with the  ABS2000  and  continued  customer
migration to purchasing  groups,  the Company has  reevaluated  the focus of the
sales and marketing efforts. Of the over $4.0 million in projected cost savings,
$1.7  million,  or nearly 50% of the savings  will be seen in this area.  In the
second quarter, the Company recorded $230,000 in additional expense representing
the impact of the interrupted  reagent sales on ABS customers who financed their
instrument purchase through fee per use arrangements.

Distribution  expenses as a percentage of sales have increased from 7.6% to 8.5%
for the fiscal  year to date as  compared to the prior  period,  although  costs
remained  relatively  constant.  The decrease in sales in the current period was
due primarily to the impact of the ABS2000  safety alert and the strength of the
U.S.dollar. Neither factor had a significant impact on distribution  activities.
Shipments of core reagent products continued at or above historical levels.

The major portion of the nonrecurring  expenses related to the implementation of
the cost savings plan was classified as general and administrative.  Of the $1.3
million in  nonrecurring  expenses,  $1.1  million  was  charged to general  and
administrative  and were primarily  related to severance.  Amortization  expense
remained relatively constant with the prior period.

Due to continued  operating losses and a reorganization  at the Company's French
and Belgian operations,  an impairment in value of the goodwill related to these
acquisitions caused a non-cash, nonrecurring impact on earnings of approximately
$3.3 million.


<PAGE>

Interest expense

When compared to the prior year three and nine month periods,  interest  expense
increased $485,000 and $715,000,  respectively.  This is the result of increased
borrowings  on long-term  debt and  capitalized  leases as outlined in Financial
Condition  and  Liquidity.  Last year's  third  quarter  also  benefited  from a
favorable interest rate swap of $75,000.

Other income

Other income  increased  for the three month period and leveled off for the nine
month period, as compared to the prior year, due to foreign currency transaction
gains offsetting foreign currency transaction losses in the current quarter.

Income taxes

Income tax  expense  decreased  during the three and nine  month  periods  ended
February 28, 2001, as compared to the prior period,  due to the operating losses
outlined  above.  Operating  losses,  for tax purposes,  will be carried back to
offset prior years' earnings then used to offset future  earnings as the Company
returns to profitability.

<PAGE>

ITEM 3.  Quantitative and Qualitative Disclosures On Market Risk

There have been no material changes regarding the Company's market risk position
from the  information  provided in its Annual Report on Form 10-K for the fiscal
year ended May 31, 2000. The  quantitative  and  qualitative  disclosures  about
market risk are discussed in Item  7A-Quantitative  and Qualitative  Disclosures
About Market Risk, contained in the Company's Form 10-K.


                                     Part II
                                OTHER INFORMATION

Item 1.  Legal Proceedings.

On December 28, 2000 the Company initiated arbitration against Becton, Dickinson
and Company with the  American  Arbitration  Association  to take place in Santa
Clara County,  California.  The Company's  claims against Becton,  Dickinson and
Company  relate to a  Distributor  Agreement  between the Company and  Biometric
Imaging,  Inc.,  and  Becton,  Dickinson  and  Company  became  a party  to this
agreement  when they  acquired  Biometric  Imaging,  Inc.  in 1999.  The Company
alleges that Becton,  Dickinson and Company either intentionally,  recklessly or
negligently failed to supply medical testing instruments and assay test kits and
either  intentionally,  recklessly or negligently  supplied defective assay test
kits in violation  of its  obligations  under this  Distributor  Agreement.  The
Company  seeks  specific  performance  by Becton,  Dickinson  and Company of the
Distributor Agreement or, in the alternative,  compensatory and punitive damages
in an amount  in  excess  of $4  million.  The  Company  acknowledges  that this
proceeding  is in its initial  stages and  cautions  that it can not  accurately
estimate the amount it may recover, if any.

On October 31, 2000 Menarini Diagnosticos, S.A. filed a lawsuit in Spanish court
against Gamma  Biologicals,  Inc. for damages suffered in the termination of the
distribution agreement between the two parties. Gamma Biologicals,  Inc. did not
receive  notification  of the lawsuit until the translated  legal documents were
received on January 21, 2001. With the acquisition of Gamma Biologicals, Inc. in
1998 by  Immucor,  Inc.,  it was  deemed a  Spanish  distributor  was no  longer
necessary as Immucor, S.L. would now supply the Spanish market. The plaintiff is
seeking an unspecified  amount of damages for lost profit and expenses  incurred
with the  introduction and distribution of Gamma products to the Spanish market,
as well as legal expenses.

Item 3.  Defaults Upon Senior Securities.

As of February 28, 2001, the Company was not in compliance with the covenants in
its loan agreement with Wachovia  Bank,  N.A. that require  certain fixed charge
coverage,  funded debt to EBITDA,  leverage,  and interest coverage ratios.  See
Management's Discussion and Analysis.

Item 6. Exhibits and Reports on Form 8-K.

         (a) The Company has filed the following exhibits with this report:

               10.23 Loan Agreement Among Immucor,  Inc.,  Dominion  Biologicals
                     Limited,  and  Immucor  Medizinische   Diagnostik  GmbH, as
                     borrowers,  and Wachovia  Bank,  National  Association,  as
                     lender, dated as of February 23, 2001.

          (b) The  Company did not file any reports on Form 8-K during the three
              months ended February 28, 2001.



<PAGE>


                                   SIGNATURES



     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                                  IMMUCOR, INC.
                                  (Registrant)



Date: April 23, 2001








/s/ Edward L. Gallup          Edward L. Gallup, President
-------------------------     (Principal Executive Officer)







/s/ Steven C. Ramsey          Steven C. Ramsey, Senior Vice President - Finance
-------------------------     (Principal Accounting Officer)